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Israel and Quebec launch $12m R&D program

Setting up the collaboration program was one of the highlights of a week-long visit by a 100-strong trade delegation to Israel led by Quebec Premier Philippe Couillard.

Israel and the Canadian province of Quebec have set up a $12 million Industrial R&D collaboration program. The program was launched during the visit to Israel this week by a 100-strong trade delegation from Quebec led by the province’s Premier Philippe Couillard.Quebec and the Israel Innovation Authority are each committing $3 million over 5 years to support Québec-Israel industrial R&D projects with a further $6 million (half from each country) from private research partners.

Couillard said, “We came here to learn about Israel’s startup ecosystem and we hope this new program will help bring hundreds of Israeli companies to Canada. We don’t talk about innovation just to tick boxes. Innovation must lead to action and a better future for all of us.”

In preparing and implementing the program the Israel Innovation Authority is represented by Israeli law firm Yehuda Raveh & Co. and Quebec’s Ministry of Economy, Science and Innovation by Dunton Rainville Avocats. The two law firms also signed a cooperation agreement between them.

Innovation was the theme of the Quebec trade mission, which included professionals from the aerospace, transportation, IT, and healthcare industries.

In addition, during the visit, crowdfunding venture capital firm OurCrowd signed a memorandum of understanding in its offices in Jerusalem with HEC Montreal, the Business School of the University of Montreal, to cooperate and identify promising technologies and help commercialize and fund them.

Published by Globes [online], Israel business news – www.globes-online.com – on May 23, 2017